Wednesday, 26 June 2013

Contemporary Sales: hasn't the blue line done well?

Picture: The Onion
Some of the breathless commentary about the contemporary art sales this week reminds me of the classic article from The Onion, Blue Line Jumps 11%. Says The Onion: "Ecstatic investors are comparing the blue line to the left side of a very tall, steep blue mountain". The Wall Street Journal thinks the Sotheby's sale 'proves' that the market is out of recession. I wasn't aware the market was in 'recession', but you can't prove such broad assertions based on the sale of a few dozen lots that are different from the few dozen lots sold at the previous major sale. Big-ticket art sales seem to generate especially frenetic journalism. Calm down dears!

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